Part 1 of 3: RFP Best Practices

Benton Belcher

Apr 8, 2022

Part 1: RFP Best Practices

In today's fast-paced media and marketing world, selecting the right media provider is crucial for success. Fairway Pinpoint Strategies addresses this challenge by offering "Pinpoint Program Synchronization" solutions to streamline your RFP and vendor selection process. Our approach ensures that your programs, brand strategy, and demand generation activities work together to achieve your campaign goals.

1. Clearly Define Your Program Synchronization Goals

Demand marketing program planning must begin with clear and quantifiable program goals, informed by realistic revenue objectives.

Before finalizing your roster of media providers, clearly define your objectives for syncing your demand and brand programs. Are you aiming to enhance brand messaging to a specific list of ABM accounts, accelerate the funnel from MQL to SAL (sales-accepted leads), or optimize retargeting placement? Clearly defining your goals will guide your entire process.

Integrated digital marketers must consider program KPI's before program launch to establish the right set of reports and dashboards. Knowing your goals and having the right framework ensures that your efforts are measurable and aligned with your overall business objectives.

2. Establish an Activation Workflow and Integrate Data into a Centralized Dashboard

To implement a campaign effectively, it is crucial to define and document the activation workflow. This ensures all tactics and execution partners understand key milestones, pacing requirements, handoffs, and responsibilities. Clarity is particularly important for organizations using multiple vendors and martech tools to fulfill their campaigns. Setting up integrations with your CRM and ad platforms can ensure everyone understands the campaign's impact at each target account and every component, from website visitor to opt-in lead, to display ad viewed or clicked.

3. Utilize the "Pinpoint Program Synchronization" Worksheet

A critical component of our approach is using a detailed worksheet that media vendors must complete as part of their proposal. This Excel worksheet is a comprehensive tool for capturing essential data and insights, including:

Audience Alignment:

• Determine Audience: Clearly define the ABM list or ideal customer profile (ICP) of your target audience, update title strategy, refine buyer needs, and specify the percentage of leads from specific content assets, key accounts, or key personas.

• Quiz Your Media Partners: Vendors must detail the percentage of their audience that matches your target demographics, demonstrating their ability to effectively reach your desired audience.

• Define "Their Audience": Determine if they are a marketplace or a publisher. What percentage of their leads will come from their first-party audience versus outsourced leads they bought and are reselling to you?

Rationale for Recommendations: Vendors must explain why their solutions are best suited to meet your goals, including insights into audience behavior and media consumption patterns.

4. Develop an Asset Matrix for Content

An asset matrix is a strategic tool that maps out all your content to ensure alignment with your brand goals and target audiences. When working with your media partner, ask them to audit your asset matrix to identify what must be developed or adapted to support the campaigns as they operate in their geographic, industry, and firmographic segments. Have them provide insights on the following:

Content Audit:

• What types of content (articles, videos, infographics, etc.) will resonate with your different audiences?

• How do they integrate intent signals and buying stage insights with your promotional strategy?

• How do they optimize top-performing content and eliminate underperforming content?

• What valuable insights can your content marketing team gain from this analysis?

Persona Alignment:

• How will they promote each piece of content to meet the specific needs, preferences, and behaviors of your various target audiences?

• What changes typically result from the content audit?

Custom Questions:

• What custom questions can you ask potential customers to gather valuable insights, align with your content assets, and enhance lead scoring and nurturing?

As you work through these best practices, you will lay the foundation for a more streamlined and effective media vendor selection process. By clearly defining your synchronization goals, establishing a robust campaign workflow, and utilizing comprehensive tools like the "Pinpoint Program Synchronization" worksheet and an asset matrix for content, you'll ensure that your marketing efforts are both strategic and aligned with your business objectives.

Stay tuned for Part 2, where we will dive deeper into advanced strategies and techniques to further elevate your media vendor selection and program synchronization.